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a possible recession if the deal on taxes is not reached. investors continued to worry if the u.s. will avoid the dreaded fiscal cliff, let's not point out the most previous minutes. plus retail cannot escape hurricane sandy. sending sales numbers down about 1%. a 4% rise in profits, jumping as much as 32% right now. staples looking good after having higher on all kinds of news. check out what else is soaring today. finally getting an earnings report that people like better-than-expected earnings after the bell yesterday, expected optimistic guidance. the chairman and ceo, 24 hours since those numbers came out, we will ask him if he investors should be expecting more numbers like today and what does he think about the fiscal cliff. what ideas does he have the president right now. and why we dropped 50 points farther from where we were already. down about 78 points, fell 122 down, now it does not look good. why? >> why? i thought maybe you would say something positive. i think we are just dealing with the aftermath of the election. this is not unexpected. it is the same old rhetoric, the same
and recent cnn/rnc polling shows more than 2 in 3 support tax hikes for the wealthy. u.s. a reality that republicans will grapple with from now until new year's day. joining me, congressman tom cole from oklahoma. a republican. thank you for joining us. >> thank you. >> your proposal, republican lawmakers should agree with democrats, exstand the tax breaks for those making $250,000 or less, before the end fortunate year, deal with the tax rates for the wealthiest later. an idea that a lot of republicans are resisting. what kind of pushback are you getting? >> the reaction is mixed. some support it. some don't. some have more questions about it. but, look, the issue really is pretty simple. i don't believe in raising tax rates on anybody. i think it's bad for the economy. bad for job creations. ultimately by slowing down growth cuts revenue, and the president needs to come to the table with real spending restraint and real, frankly, entitlement reform. having said that, if we agree taxes shouldn't go up on 98% of the people, shouldn't we take that now and get that set aside, make sur
, the u.s. ambassador, susan rice, meets with some of her toughest critics. and apparently they don't like what she has to say. >> we are significantly troubled by many of the answers that we got and some we didn't get. more disturbed now than i was before. >> shepard: republican senators criticizing ambassador rice for her initial comments on the libya consulate attack. >> ambassador rice has no responsibility for collecting, analyzing and providing intelligence. >> shepard: tonight the ambassador responds. >>> plus, the people of egypt trying to avoid trading one dictator for another. fighting back against a president who gave himself new powers. tonight a potential crisis point as the leader tries to put himself above the law. and how will the u.s. handle this? >>> plus, the chances of winning are ridiculously low. but millions of us are still lining up for a shot at a record powerball jackpot. >> lucky, lucky, lotto win. >> shepard: tonight a look at the actual odds of winning it all. but first from fox this tuesday night, three republican senators now say they cannot support the u.n.
♪ backing down. what of the israeli truce? plus the u.s. ambassador to the united nations susan rice took some heat over her comments on the libya consulate attack. now it looks like though her critics have some ammunition against their claims. now she is going to go speak to some of them on capitol hill. benghazi and susan rice and is the tide turning? that's coming up from the journalists of fox news on this monday fox report. a hybrid? most are just no fun to drive. now, here's one that will make you feel alive. meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small busins earns 2% cash back on every purchase, ery day! helium delivery. put it on my spark card! [ pop! ] [ garth ] why settle for less? great businesses deserve great rewards! awesome!!! [ male announcer ] the spark business card from capital one. c
are scaling back their investment plans. according to "the wall street journal", u.s. companies are cutting their spending plans in the fiscal and economic uncertainty, and doing so at the fastest pace in the a recession. it goes on to say that companies are not planning to spend this year or next year. i am joined by jeffrey miron. welcome back to the show, jeffrey. good to see you. i want to start with some breaking news that we had. moody's just announced that they are cutting france's government rating to aa from triple-a. the s&p data back did it back in january. of course, we mentioned last week that the eurozone is in recession. economies that are expanding and not contracting. is this a winning post for people in this country who can't seem to get our spending under control? >> i think it should be a warning. the entire situation should be a wake-up call. but even in europe, they are not recognized in the wake-up call. they are not doing all they could do to turn themselves away from being someone like greece. they have to cut the spending. gerri: they don't want to hear the bad new
whatsoever from u.s. officials here at the u.n. today, shep. >> shepard: jonathan, u.n. officials say they are monitoring cease-fire negotiations but carefully trying to stay out of the middle of them. >> yeah. certainly trying to stay out of the middle. getting into the middle of it is is the u.n. secretary general ban ki-moon who traveled to cairo today where those negotiations are taking place. is he going to meet with egypt's president mohammed morsi tomorrow. later this week he will travel to israel to meet with prime minister netanyahu and also to the west bank to meet the palestinian president mahmoud abbas. the trouble with these negotiations as so often in these cases is who stops firing first. in the word of u.s. officials that is clearly up to hamas to do. listen. >> we have been very clear that israel has a right of self-defense. we have been very clear that rockets continue to be fired and land on israel. we have been very clear that we are working to try to get this conflict deescalated. we have been very clear about our concern for civilians and innocence on both sides.
differently. >>> for all the talk of scandal at the highest levels of u.s. command these days let's remember there are 68,000 men and women serving in afghanistan tonight. and every day for 11 years they and thousand before them have done us proud, more than 2,000,02,000 laying down their lives for us. jake tapper remembers. on the day jake's son was born, our white house correspondent heard the story of other american sons at one far out post and a terrible battle. jake set out on a three-year quest to bring us their story from the northwest reaches of afghanistan. >> what's up, dude? >> not a thing. >> reporter: for years the troops at combat outpost keating feared they were sitting ducks. located at the bottom of three steep mountains 14 miles from the pakistan border. and when the taliban attack finally did happen in october 2009, seen here in this terrifying video posted months later, the 53 u.s. troops there were horribly outnumbered by 400 enemy fighters. >> well were alone, isolated. air support was too far away. that location was indefensible. >> reporter: why was the doomed outpost
. and if the state department is saying they never believed that this attack on the 11th of september against the u.s. consulate was a film protest gone awry, think about it -- it's nearly impossible to believe that president obama didn't know. oh, and dimension the state department was watching this unfold in real time? when president obama in his absurd press conference then tried to portray himself as coming to the defense of a damsel in distress, susan rice, saying, quote, republicans should come after me. at that moment, he stumbled into a deeper and more damaging truth than he realized because republicans are rightly going after you, mr. president, because the evidence is mounting that you and your administration knowingly and willfully misled the american people on the benghazi massacre and lying to the american people, perhaps in order to get re-elected. that's a serious offense. joining me with reaction, texas congressman mike conoway, in the closed-door meeting with general petraeus and the author of a brand-new book, a host of war stories. oliver north is here. bring us inside the room. wh
the changes could mean. >>> welcome back. take a look at the u.s. equity futures. dow and s&p coming off their worst week since july 4th. you can see they are indicated higher, but maybe not the bounce you might have expected. the dow up 23. >> squawk sports new, texans beating the bears 13-6. foster finished with 102 yards rush and touchdown catch and texans intercepted cutler twice before knocking him out with a concussion. >> no comment about the jets? >> they lost. >> andrew, here's the deal. >> did you see rex ryan -- >> the giants won the super bowl last year. a lot of people have told him he's fat and he should shut up. he's not fat anymore. she just shut up. but sanchez, you brush up against him and the ball goes flying out. >> they've been going back and forth. >> when the giants are the defending the super bowl champions and they got their butts kicked by the bengals and the other game unbelievable is johnny football. texas a and m and alabama, that was unbelievable. alabama number one. texas a and m just joined the sec. and this guy johnny football, you just can't believe the
the mosque. that is considered a terrorist organization by the u.s. government, of course. >> i want to thank president morsi for his leadership in ending the violent, this is a critical moment for the region. egypt a new government is assuming the responsibility and leadership that has long made this country a cornerstone of regional stabilitiy it peace. lou: the ceasefire hours after a bomb tow through a bus in israel's defense ministry in tel aviv, it injured at least 2 dozen people, hamas leaders praised the attack but did not take out right responsibility. a damascus based group with ties to the west bank took credit. the israeli government confirmed this is only the first stage of a ceasefire agreement work many questions remain stock answered. a second set of negotiations reportedly to begin within the next 24 hours, israel's blockade of the gaza border, and an end to the flow of arms in to gaza to be negotiated. but perhaps, a bigger question, did secretary of state, hillary clinton, simply rubber-stamp an agreement that has already been negotiated. we take all of this up here tonight
that anybody breached the national security in the scandal that's erupted around two top u.s. generals. but the president notes the investigation is still going on. president obama held his first white house news conference of his new term today. reporters asked him whether investigators should have informed the white house about the scandal before the election. >> what i will say is, is that if, um, it is also possible that had we been told, then you would be sitting here asking a question about why were you interfering in a criminal investigation. >> shepard: the president said he thinks it's best if we just wait to get more information about how all of this unfolded. no question it is complicated so here is a bit of a recap of all the cast members and plot twists in this ongoing well soap opera. last week then cia director david petraeus resigned as we learned that he had been sleeping with his biographer paula broadwell. that affair came out after the fbi started investigating paula broadwell for allegedly sending emails to another woman jill kellily a friend of david petraeus fami
to the audience in the u.s., to put them in perspective of what's going on here. >> and you see it is a very fluid situation. we're dealing with correspondents in the field. this is exactly where everything is funneled to. the arab league is convening in cairo to discuss the situation in gaza. this desk will be live all throughout the morning and afternoon to bring you the latest information, so when we have breaking news, we'll toss it back up to you. >> we appreciate that, nick. thank you. and let's take you back to the israeli side of the border. israeli tanks and troops certainly taking up positions there, trying to get us back to fred. what are you seeing there in terms of military activity? >> reporter: hi, randi. there's a lot of military activity on this side of the border. on the one hand, you have the air strikes that the israeli air force is conducting there over gaza. sara was talking about it just a little bit. as she was talking, there was actually a bomb being dropped on gaza that we could see here from our position. i'd say we're about four, maybe five kilometers away from the gaza
is monitoring the troops' efforts during his visit to southeast asia. he arrived in cambodia, the first time a u.s. president has visited there. earlier mr. obama became the first american president to visit burma as well. following decades of repressive rule. mr. obama says he sees signs of progress on human rights. bill plante reports from rangoon, burma. >> reporter: good morning. the president is visiting three countries in southeast asia to underscore that the u.s. intends to be a major player in this region. but he's dubbed by troubles in another part of the world where the u.s. can't avoid involvement. the president embraced democracy advocate and nobel peace prize winner aung san suu kyi and celebrated the beginnings of democratic reform in this nation which was long under military rule. but mr. obama's triumphant visit here is shadowed by the continuing violence in the middle east. in thailand earlier he called for a negotiated end to that conflict. but he strongly defended israel's right to act against the missiles from gaza. >> there's no country on earth that would tolerate missiles ra
saudi arabia? could an abundance of shale oil in the u.s. actually bring about energy independence by the year 2020? we drill for the truth straight ahead. and how rich is rich? the president wants higher taxes for americans earning more than $250,000 a year. is that fair? or should that number actually be $1 million? and could this be the key to resolving the looming fiscal cliff? that and a lot more is still to come on the "closing bell." >>> if a budget is not agreed upon to avoid the fiscal cliff, the average middle class family will pay $2,000 more in taxes. >> that's right. crunch time is upon us. the markets and economy will be held hostage until lawmakers do reach a deal on the fiscal cliff, presumably between now and the end of the year. >> eamon javers is breaking down the plan. over to you. >> just before the break, you and bill were debating whether or not it's too early to start getting sweaty palms about in fiscal cliff problem in washington. as a guy covering capitol hill for almost 20 years, i can tell you it's never too early to panic about what washington might do
the whole thing shakes out. we have a map of the whole country i think we can put up the pads across the u.s. we call them where with the fuel is divided into. i'm wondering if this will have a domino effect over time? the yellow on the right hand part of the screen that is pad one and who we're seeing impacted by this shortage right now. but i wonder is there a domino effect. could this start spilling over to the rest of the country as we steal fuel from other sources here on the east coast? >> oh absolutely, it certainly can. i have a retailer, gas station owner in pittsburgh market i was talking to yesterday and he is fully expecting this. look, commodities are very easy to follow from a price perspective. the commodities will go wherever the price is the highest. melissa: right. >> if you do have indeed a shortage of product and increased demand, and what's happening now, we have to keep in mind, the supply issue is what it is but the demand issue is still muted. melissa: right. >> so we don't have, roads are closed and so forth. so the demand is there. in weeks ahead demand will pick up
other's throat arguing about the administration's response to the deadly raid on the u.s. consulate in benghazi, libya. >>> you said in the rose garden the day after the attack it was an act of terror. it was not a spontaneous demonstration. >> please proceed, governor. >> i want to make sure we get that for the record. >> we have no reason to expect that today's lunch time conversation will be anything like that. there is a precedent in recent history for this tynkind of meeting. 13 days after obama beat mccain he invited mccain to his offices in chicago. at the time the two released a statement about working together in the future. that did not hold since senator mccain has once again become one of president obama's harshest critics. >> all right beater dos see, thank you so much. >>> now to stories that you can bank on this morning and cyber monday a huge success. how big was it? >> good morning. well, i got a message from one retailer that said thank you you almost crashed our site. that was our message on cyber monday. they received nearly two orders per second four times the r
will be felt here in the u.s. joining me now in a fox business exclusive is senior advisor to the mayor, thank you for being with us. i want to get right to it. a cease-fire is good news but what is your take on it? >> is quite interesting because since the cease-fire was signed, several rockets were launched after the cease-fire came into effect. things have been pretty quiet and we hope it continues this way. melissa: do you feel that they violated it already? >> i guess you could call it that. we are dealing with band of terrorists whose political ideologies to kill as many as thewecan. we have to take it with a grain of salt. we want the southern border to be peaceful and that is why we signed the cease-fire with them and we hope they stand up to the terms they agreed to. melissa: israel agreed to stop all hostilities and not target specific individuals. palestinians said they would stop against israel including rocket attacks and along the border. obviously this question about that, but does it seem fair to you? >> let's put it this way. our goal is to make sure our citizens live peaceful
thought to the findings of the congressional committee on the culpability of jon corzine, the former u.s. senator with respect to the mf global collapse. >> i think it is no surprise that corzine gets all the blame there from republicans. they want to embarrass a guy who's got democratic connections. he was to blame. he made these big bets. the more interesting thing to me is the extent to which it shows that the s.e.c. and the cftc were completely at odds with one another, not in sync, and makes the argument strongly for merging those two. it does make the case more strongly for merging those two agencies. >> thank you very much, ben. we'll talk more about that congressional report in our next half-hour. simon? >>> tyler, in 53 minutes, a major news conference begins in which we're expecting an announcement that bp, british petroleum, is agreeing flou to pay the u.s. government a record fine for the disastrous oil spill in the gulf of mexico. what was it? two years ago. bertha coombs has details. bertha. >> that's right, simon. they will admit guilt and pay the largest fine ever by a u.
: they will pay in installments over five years but all criminal issues between the u.s. government and bp will be settled. it does not remove the issue of civil penalties which by their most extreme calculations could be $21 billion. i will read you a statement from bp where the chairman of the board said we believe this resolution is in the best interests of bp and its shareholders, it removes two significant legal risks and allows us to vigorously defend the company against the remaining civil claims. keep in mind that bp has booked $31 million in charges against -- because of the disaster in 2010. they will lead $3.58 billion as part of the settlement. they still face the civil possible fine from the environmental portion of the u.s. government over this, $4,300 per barrel, two hundred six million gallons was spilled. in english possibly $21 billion but they hope they can defend themselves against that. two bp employees could face manslaughter charges. dagen: that does surpass the record fine we previously sought by three times. $1.3 billion fine paid by pfizer in 2009 for marketing fr
on the deadly u.s. consulate attack in libya. we are learning he briefly addressed his affair all paula paula broadwell in his opening comments, but the two matters surrounding benghazi. air raids had sirens ringing in tel aviv. israel continuing its attacks on militant targets in gaza as israeli troops and tanks are masking the border of gaza signaling an invasion could be imminent. those are your headlines. back to lori and melissa. melissa: thank you so much. towards the end of an era as hostess asked for permission to close its operations for good. forever ending the likes of twinkies and wonder bread. joining us from the home of twinkies and illinois. it is a sad day. what a sad day. i love twinkies. >> a lot of people realize that they love twinkies. it is that for the consumers and the workers. some put in 30 years at this company. they have been talking about making millions of little snack cakes, but the company was taking too much from them. they were trying to lower their wages and take more and insurance contributions. the remaining workers who are inside now are cleaning out thei
evidence tonight that september's terror attack on the u.s. mission in libya that killed the u.s. ambassador and three others had some element of inside help. chief intelligence coach catherine herridge has the update. >> one month before the benghazi attack, the classified cable reviewed by fox news warned the state department that libyan militia was infiltrated by islamists and could not be trusted. "certain sectors of the brigade were hesitant to share information." >> it's a direct evidence you can't rely on libyans and we can't defend consulate and direct evidence there is al-qaeda people in the region. >> new documents recovered from the benghazi compound by the foreign policy magazine show that in the early morning hours of september 11, the consulate staff believed they were under surveillance. this person was photographing the inside of the u.s. special mission. and furthermore, this person was part of the police unit sent to protect the mission. this is consistent with online post from sean smith, avid gamer before it was overrun with terrorists. smith was killed. "assu
of the president or representatives of the u.s. government. >> this is a woman who clearly would like to replace secretary of state hillary clinton in that job. no shrinking. she was perfectly able to defend herself. i'm sure she was speaking off the set of talking points. the question is, one of the many questions, did she know when she was speaking that there was contradictory and permission? lou: and it is -- i'm not sure that it is unfair to say that the president and his entire national security team, if you will, are hiding behind the skirts of ambassador rice. >> well, i think the president gave away the game here when he also said in his exasperation with senator mccain that susan rice did not know anything about what happened at benghazi, thus proving the brilliance of the white house strategy at the time their effort was to get past the election, to minimize what actually happened. but -- what better way than to send out susan rice who knows nothing? she can't possibly make a mistake. she can't possibly reveal information inadvertently? think of the risk of putting hillary clinton out
here in the u.s.? and what does that mean for us at the pump? this is what we care about in this whole greece thing. joining me, patrick dehaan, senior petroleum analyst from gasbuddy.com. what do you think about all this because it looks like oil prices are pretty darn weak for a number of reasons and that could be really good news for all of us? >> could be really good news and perhaps there is some bad news in there as well that is if oil prices go down, or if we go off this fiscal cliff, oil prices could collapse again. we could see a repeat of 2008-2009 recession where oil prices dropped to 50 bucks a barrel. lower gas prices certainly is good news but for all the wrong reasons. if greece doesn't get their country in order, if the e.u. doesn't get all their ducks in a row here we'll continue to feel it in oil prices. will it pull the u.s. down as well? that's the big question. lower oil prices are good for motorists but it is a sign of bad things to come. melissa: but, patrick, we're this is really clear at this point. we just talked about how, we're not going to solve this, that
. you can print real u.s. postage for all yo letters and packages. it gives you the exact amount of postage you need the instant you need it. can you print only stamps? no. first class. priority mail. certified. international. and the mailmapicks it up. i don't leave the shop anymore. [ male announcer ] get a 4-week trial plus $100 in extras including postage and a digital scale. go to stamps.com/tv and never go to the post office again. >> all right. today is back to workday in washington. president obama has his first big meeting on the fiscal cliff since his reelection. and who is he meeting with? union leaders and far left activists. we're scrolling their names on the side of the screen, but you can see richard trumka is there along with the heads of every major union, richard trumka who said this after the president's victory last week. >> it's strongly believed that we should make sure the wealthy should pay their fair share of taxes. they believe we should protect medicare and medicaid and social security benefits from cuts. and voters reject the idea that bringing down t
relations with the u.s. by closing the suez canal. >> i mean, you're very optimistic to think that this sort of instability in the neighborhood isn't going to spill over. i talked to people about this every day, and i got to tell you, you're alone. >> yes, you can build a model that has this all the way going out to let's say iran and closing the strait of hormuz, but this would take a real series of reactions, one after the other to imagine the supply of oil being reduced as a result of this. it's a very complex model to imagine that. >> do you think, john, perhaps we're not seeing a direct impact in the price of oil, in your view, because we are in supply of oil right now? >> i think the market is fundamentally very bearish right now. in the fourth quarter of this year, where you normally draw world inventories of crude, you are going to build world inventories of crude. right now all the models into next year show a build basically all yearlong. opec is going to meet i think in two three weeks in vienna. i think the idea this is going to be just a cake walk meeting is not necessarily true
minute. senators say they would not support a nomination for susan rice until questions on the u.s. consulate in libya are resolved. rice wrapped up her meeting with the three over her initial comment about the attack. pictures from egypt as opponents of president mohammed morsi continue to clash. they are railing against morsi that gives them absolute power. one person was killed after inhaling teal -- tear gas. it was quite a scene at the empire state building. the light feature more than 16 million colors. those are your news headlines on fox business network. back to connell. connell: thank you very much. it is not to jamie dimon and idea that he may be the next treasury secretary. that is well warren buffett seems to be hoping for. here is a quote from buffett. if we did run into problems and markets, i think, he would actually be the best person you could have in the job. world leaders would have confidence in him. i do not think anyone asked me about this. i think it is highly unlikely. what do you think? >> i think warren buffet is truly one of the great minds of our centur
hi-revised reading of 73.1 in october o. and u.s. home prices climbing higher for the sixth month in a row. property values in 20 cities jumped 3% compared to one year ago, building on a 2% gain posted in august. liz: green mountain coffee roasters brewing up numbers, robert gray has the numbers. >> reporter: coming in better than expected, 946.7 million bucks, well ahead of the estimate, 902, and the nongap adjusted earnings number coming in, again, well ahead of expectations, 64 cents. thatts better than the 48 cents that were anticipated there. and they're talking up the sales of new platforms here as they're facing new competition from starbucks. a double beat, if you will, and you see the shares jumping in after hours. liz: yes, david was right, it has been hammered by the short sellers, particularly david einhorn who was famed for short selling lehman brothers. but, again, this is a company that has continued to try and come through here, new management changes, right, robert? >> reporter: yes, new ceo, and i just did a quick search, nary a mention of starbucks, remember, st
. >> an american team of top experts arrived shortly after the disaster, but they were largely stuck at the u.s. embassy. the japanese didn't think they needed the help. but the emergency was out of control, and the u.s. gave the japanese an ominous private warning. >> that if, you know, we don't expand the efforts, we'll require heroic work done that could be, you know, quite devastating for the workers. >> what do we mean by that? >> that means they could very well lose their lives. >> an official with the u.s. government told the japanese that "your people are gonna have to die save that plant unless you let us help you." >> yes. >> at one point during the week, the hazard was so great, the japanese took all but about 70 workers out of the plant. their problem is water. the systems that keep the radioactive fuel rods cool failed. the rods are partially melting, releasing radiation. and it's not just the reactors. there are also used fuel rods, essentially nuclear waste, stored in pools nearby. they're also losing water, and american experts fear that one of these pools is already dry. neshei
army had been stolen from the ministry of defense by the very people the u.s. entrusted to run it. >> that's a lot of money. >> it's one of the biggest thefts in history, i think. >> most of the iraqi officials involved, including the former minister of defense, have skipped the country, but we found one of his deputies vacationing in paris. if you went back to baghdad, you'd be arrested. >> uh, no. nobody will arrest me. they will kill me. [ticking] [camera shutter snaps] >> these surveillance photos were taken by undercover police officers while they watched a team of seven south american thieves clean out an old navy store. >> shirts at $22.50, and they got the whole rack. >> when police moved in to make the arrest, they found enough merchandise to fill a room. all taken in less than an hour without anyone inside the store noticing a thing. [ticking] >> we have never seen a problem of this size and magnitude in world history. >> now hang on. in world history. >> there's more counterfeiting going on in china now than we've ever seen anywhere. >> name an american brand. any brand
economics. back here in the u.s., reports from walmart and target. at 8:30, we get weekly jobless claims. october consumer price index. and the november empire state survey. in corporate news, bp expected to pay a record u.s. criminal penalty and plead guilty to criminal misconduct in the 2010 deepwater horizon disaster, a plea deal reached with the department of justice reportedly may be announced as soon as today. reuters says bp will plead guilty in exchange for a waiver of future prosecution on the charges. bp says it is in discussions, but no final agreement has been reached yet. >> fun to have you here today. we do hope mr. kernen get better very soon. he's not normally sick. >> he never calls out sick. so he must be really sick. >> i think there's a flu going around. >> convenient for all of us. i took chips out of his bag yesterday and now i'm -- >> who is the guy sitting in his seat? >> can we get some lie sole over here? >> let's get back to the topic dominating the conversation from wall street to washington right now. of course it is the looming fiscal cliff. we have made it
territory. >> the head of mcdonald's u.s. business is out and jeff stratton will assume that business starting january 1. capped off last month with the first decline in monthly sales in about nine years. we'll begin with a teale of two retailers. walmart, revenues coming in short of forecast. -- as for target, the company posted third quarter earnings well above estimates, says it's poised for a strong fourth quarter, but walmart has some issues here, jim. they're talking countries including but not limited to brazil, china and some others too. >> yeah, i was thinking it bick, not brick. russia has been left out of the equation, foreign corrupt investigation, not a great number here at all. the stock had become a very big institutional favorite. if you recall during the mexican investigation, when "new york times" piece it, the stock was trading between 57 and 58. they were then overridden by a couple of really good, solid quarters. this was not the quarter that anyone was looking for. >> except for those who sold the stock over the last couple of weeks. i mean that stock has started
make of that? speak of the war is quite complicit dumb explicit. if the u.s. goes over the fiscal cliff, the jump in taxes would likely quickly push the u.s. economy into a recession and there is nothing the fed can do to prevent that from happening. gerri: it seems to have unloaded everything they have, the economy has to come back on its own now. >> they can do with the bank of japan is now supposedly considering, resort to negative interest rate policy. consumers would be charged to keep money in savings accounts. that is one way getting people to spend, i don't think that is likely to happen anytime soon. gerri: i think that is just crazy talk to lots of viewers. but it is reality. instead of getting paid for putting your money someplace, which is the way it normally happens, instead you have to pay for the privilege. now why are people willing to make that trade-off? >> simply because they don't have enough room in their mattress to store their money or they don't have enough confidence to put their money in other financial assets such as stocks. gerri: we are not here yet. >> coul
to defend itself against any attack. u.s. and israel both want an end to the rocket fire. president obama has spoken to leaders of egypt and turkey which could encourage hamas to end the violence. >> while the situation develops. president obama is on his way to southeast asia. he is working with that region will be a critical part of the second term. ultimately it will be a his foreign policy legacy. he will go to thie land and then to go cambodia and be the first sitting president to visit burma. >> back here at home. concerns over the so-called fiscal cliff. we understand that the president plans to meet with congressional leaders again after thanksgiving looking to find way to avoid tax increases and spending cuts in the that you year. after the president's win, they are taking a harder line. can a compromise be reached. chief congressional correspondent from washington examiner, thank you for joining us. >> nice to be here. >> how hopeful that a compromise will be reached? >> i think it was interesting about yesterday was the way that all the leaders, republican and democrat came out
immigration status and length of time in the u.s., you may be eligible for federal benefit programs and it goes through a long lit any and it is long and a lot of money. >> it is unfortunate. immigrants are treasures the arrival of each one makes us more american because it signifies. >> if they are here to work. >> absolutely. it is it the last thing you want to do is offer them hand out to come here. that insures that you get a lower quality person coming here. we want to attract those who want to come here and achieve. >> steve, that is it the problem. i would say the overwhelming number of immigrants come here to work there are some that is drawn like in europe. offering the benefits. and ty came just for the benefits. >> yeah, unfortunately john is right. most immigras want to get ahead as lincoln put it and improve your on lot in life. this is about the citizenry andccupiants of the country, they want to subverts and make us independent and that means votes for the center. we see what is happening in europe with they do that. >> rick, we have a list of all of those alien that
, they are eerily similar. here's why. back in september, prudence bushnell, the former u.s. ambassador to kenya at the time of the '98 bombings penned an op-ed in the "new york times" in reaction to the benghazi attack. she wrote, "we must make that work safer. the reasons change, but the human effects are the same. for two years before we were blown up in nairobi, kenya, my team and i thought, nagged was the word the state department colleagues used to have security threats and vulnerablallities assessed. i was told there was no more money for a more secure embassy. just to make sure everyone is following this. let's recap this. back in the late '90s, those in the kenyan embassy were begging the state department for additional security before the bombings, but not given additional resources. does this sound familiar? it gets worse. after the attacks in '98, susan rice was put out by the administration at the time to go on pbs and talk about the attack. we have the tape. watch what she says very closely. >> all of our embassies around the world have received warning of this, notice of this, and
and renaming it the austerity crisis or bomb. that's it. according to the u.s. news and world report, give the cliff another name, and that would change the entire impact on its problems. the reality, though, is this. you'll pay higher taxes in all likelihood. consider these numbers from the tax policy center. middle class earners, folks with an income of $64,000, their rate increased 3 #.8% or $2,000. upper middle class folks, $108,000 in income, family of four maybe, two people working, your rate is 4.2% or $3500. if you make more than half a million, watch for a more than 5 #% hike in taxes or $15,000 tax increase. in rich land, earners of more than $2.5, an 8% increase in the rate, and this is how much more you pay. this is what they call fair and equal, dividing all the responsibility. i don't know, that's not what it looks like to me. the mainstream media says, forget it, it's not important. take whatever income you have, move the bonuses to calendar 2012, sell stock losers next year, and if you are gifting money to the kids arian grand kids, do it this year when taxes will be far lo
macro as well as fiscal -- global macro overhangings as well as fiscal challenges here in the u.s. this will be punctuated supremely by the noises in the narrative coming out of washington. the president is meeting with business leaders or he's meeting with labor unions and nonprofits today. business leaders tomorrow. and then legislators on the third day. an interestingly enough there's no wall street or banking business leaders outside of american express and that group. i suppose elections have challenges when they happen, they have consequences when they happen. that's what we will see with these discussions. cheryl: you still stay market is oversold. if that were truly the case, why even on a day like today, when we were up almost 100 points and then boom a pullback, it seems like if we're that oversold, there's buying opportunities on a day like today. >> we've had the market oversold with some of our quantitative work since middle of september. because of overhang of all the issues we're dealing with. europe came back into the fore right up to the election. the market can't
on twitter @melissaafrancis. >>> next on "money", move over saudi arabia. a new report says the u.s. will be the world's number one oil producer in just five years. but is it too good to be true? stephen schork of the schork report is here to break it all down. >>> plus the northeast gas crisis has wreaked havoc for millions of people but one economist says price gouging actually could have prevented it. he is here to explain. more "money" coming up. havi you ship my gifts couldn't be easier. well, having a ton of lations doesn't hurt. and my daughter loves the santa. oh, ah sir. that is a customer. let's not tell mom. [ male announcer ] break from the holiday stress. fedex office. maybe you want to incorporate a business. orrotect your family with a will or living trust. and you'd like the help of an attorney. alegalzoom a legal plan attorney is available in most states with every personalized document to answer questions. get started at legalzoom.com today. and now you're protected. ♪ . melissa: so time to gush about oil right here in the usa. that's right, believe ii or not the
their first smart phone. 58% of teenagers in the u.s. now have smart phone, the fastest-growing demographic. it is a global phenomenon so we have consumers and enterprise as well. allowing us to protect those going to the enterprise. david: of all the figures we have seen the most remarkable is 58% of teens and preteens have smartphones because i'm the one hand it to be a lifesaver, the other hand it can be pretty scary what the kids are exposed to. is that one of the fastest-growing segments of your business? >> yeah, we just announced the product. our team is getting ready to launch those products for black friday, so we are actively working to make sure parents walking to the stores next week and buying their kids a smart phone have the ability to purchase. we announced the relationships with the dealers in the u.s. absolutely expecting it to be a big part of the growth. i'm not sure this phenomenon will stop, they are begging me every single day for a smart phone. i anticipate this will go below the age of 10 at some point. they can do almost anything on these devices. david: i can't, b
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